Organisational restructuring is on in SEBI to fill the vacancies created by the recent exit of key officials. The market regulator has a workforce of more than 600 people and has sought the removal of a provision in its service rules that required it to hire 50 percent of its EDs on deputation and on a contract from outside the organisation. Under the changes made, Anant Barua, Executive Director (ED), who was in-charge of the corporate finance department, is now looking after SEBI's legal department. This is after SEBI's ED J Ranganayakulu, who headed the legal department, retired on August 12. The corporate finance department has been split among various EDs till SEBI appoints another head. With Ranganayakulu retiring, SEBI has five EDs, including Barua, SK Mohanty, PK Nagpal, S Ravindran and SV Muralidhar Rao. SEBI is said to be also in the process of appointing a whole time member (WTM) as current member S Raman retires in September. This appointment may be finalised by next week after interviews are conducted of around a dozen of the shortlisted candidates. As reported by Indianmandarins last week, among those who had applied for the post include a few SEBI officials. The regulator is likely to witness major actions in both the legal as well as corporate finance departments owing to corporate governance issues at Infosys and a consent settlement plea by the National Stock Exchange and its officials.